Illinois enacted the third full state crypto regime in August 2025: the Digital Assets and Consumer Protection Act directs the Department of Financial and Professional Regulation to license digital asset business activity conducted with Illinois residents, exchange, custody, transfer, and related services, with customer-asset segregation, disclosure, complaint handling, and fitness requirements modeled on New York's and California's frameworks, and the companion Digital Asset Kiosk Act imposes registration, fee caps, and fraud-warning duties on crypto ATMs. Licensing obligations phase in as IDFPR completes rulemaking, with the core requirements taking effect in 2027, so the regime sits today between enactment and enforcement.
Illinois already applies its Transmitters of Money Act to fiat-touching crypto business, and the Attorney General and Secretary of State pursue crypto fraud under the state's securities law, which has produced steady enforcement against unregistered offerings and scams in the interim.
The instruments
Digital Assets and Consumer Protection Act
IDFPR licensing for digital asset business activity with Illinois residents: registration, financial responsibility, custody and segregation of customer assets, disclosures, and examination authority, with a kiosk registration regime alongside. Obligations attach as rulemaking completes, with core licensing effective in 2027.